Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation VV

Forms and Documents

Document Name	Status
FRVV_20171227_omb.pdf Supporting Statement A	2017-12-27

IC Document Collections

IC ID	Document Title	Status
211445	Ongoing Disclosure Section 248.11(a)(8)(i)	Modified
211444	Ongoing Recordkeeping Section 248.20(f)(2)	Modified
211443	Ongoing Recordkeeping Section 248.20(f)(1)	Modified
211442	Ongoing Recordkeeping Section 248.20(e)	Modified
211441	Ongoing Recordkeeping Section 248.20(d) ($10-$50 billion)	Modified
211440	Ongoing Recordkeeping Section 248.20(d) ($50 billion)	Modified
211439	Ongoing Recordkeeping Section 248.20(c)	Modified
211438	Ongoing Recordkeeping Section 248.20(b)	Modified
211437	Ongoing Recordkeeping Section 248.11(a)(2)	Modified
211436	Ongoing Recordkeeping Section 248.5(c)	Modified
211435	Ongoing Recordkeeping Section 248.4(b)(3)(i)(A)	Modified
211434	Ongoing Recordkeeping Section 248.3(d)(3)	Modified
211433	Ongoing Reporting Section 248.20(d) ($10-$50 billion)	Modified
211432	Ongoing Reporting Section 248.20(d) ($50 billion)	Modified
211431	Ongoing Reporting Section 248.12(e)	Modified
211429	Initial Disclosure Section 248.11(a)(8)(i)	Modified
211428	Initial Recordkeeping Section 248.20(f)(2)	Modified
211427	Initial Recordkeeping Section 248.20(f)(1)	Modified
211426	Initial Recordkeeping Section 248.20(e)	Modified
211424	Initial Recordkeeping Section 248.20(d) ($10-50 billion)	Modified
211423	Initial Recordkeeping Section 248.20(d) ($50 billion)	Modified
211421	Initial Recordkeeping Section 248.20(c)	Modified
211420	Initial Recordkeeping Section 248.20(b)	Modified
211419	Initial Recordkeeping Section 248.11(a)(2)	Modified
211418	Initial Recordkeeping Section 248.5(c)	Modified
211417	Initial Recordkeeping Section 248.4(b)(3)(i)(A)	Modified
211416	Initial Recordkeeping Section 248.3(d)(3)	Modified
211415	Initial Reporting Section 248.20(d) ($10-$50 Billion)	Modified
211414	Initial Reporting Section 248.20(d) ($50 billion)	Modified
211407	Initial Reporting Section 248.12(e)	Modified

ICR Details

OMB Control No: 7100-0360	ICR Reference No: 201712-7100-019
Status: Historical Active	Previous ICR Reference No: 201708-7100-009
Agency/Subagency: FRS	Agency Tracking No: FR VV
Title: Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation VV
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/27/2017
	Date Received in OIRA: 12/27/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2020	36 Months From Approved	12/31/2017
Responses	332,849	0	332,849
Time Burden (Hours)	1,085,690	0	1,085,690
Cost Burden (Dollars)	0	0	0

---

Abstract: The Board, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Commodity Futures Trading Commission (CFTC), and the Securities and Exchange Commission (SEC) (collectively, the agencies) adopted a final rule that implemented section 13 of the Bank Holding Company Act of 1956 (BHC Act), which was added by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 13 contains certain prohibitions and restrictions on the ability of a banking entity supervised by the agencies to engage in proprietary trading or to have certain interests in, or relationships with, a hedge fund or private equity fund. Section 248.20 and Appendix A of Regulation VV - Proprietary Trading and Certain Interests in and Relationships with Covered Funds require certain of the largest banking entities engaged in significant trading activities to collect, evaluate, and furnish data regarding covered trading activities as an indicator of areas meriting additional attention by the banking entity and the Board.

---

Authorizing Statute(s): US Code: 12 USC 1851(b)(2) Name of Law: Bank Holding Company Act
   US Code: 12 USC 1851(e)(1) Name of Law: Bank Holding Company Act
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 35947	08/02/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 60602	12/21/2017
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 30

IC Title	Form No.	Form Name
Initial Recordkeeping Section 248.20(b)
Initial Recordkeeping Section 248.20(c)
Initial Recordkeeping Section 248.20(d) ($50 billion)
Initial Recordkeeping Section 248.20(d) ($10-50 billion)
Initial Recordkeeping Section 248.20(f)(1)
Initial Disclosure Section 248.11(a)(8)(i)
Ongoing Recordkeeping Section 248.20(c)
Ongoing Recordkeeping Section 248.20(d) ($10-$50 billion)
Initial Reporting Section 248.12(e)
Initial Recordkeeping Section 248.3(d)(3)
Initial Recordkeeping Section 248.4(b)(3)(i)(A)
Initial Recordkeeping Section 248.5(c)
Initial Recordkeeping Section 248.11(a)(2)
Ongoing Reporting Section 248.12(e)
Ongoing Reporting Section 248.20(d) ($50 billion)
Ongoing Recordkeeping Section 248.20(d) ($50 billion)
Ongoing Disclosure Section 248.11(a)(8)(i)
Initial Reporting Section 248.20(d) ($50 billion)
Initial Reporting Section 248.20(d) ($10-$50 Billion)
Initial Recordkeeping Section 248.20(e)
Initial Recordkeeping Section 248.20(f)(2)
Ongoing Reporting Section 248.20(d) ($10-$50 billion)
Ongoing Recordkeeping Section 248.3(d)(3)
Ongoing Recordkeeping Section 248.4(b)(3)(i)(A)
Ongoing Recordkeeping Section 248.5(c)
Ongoing Recordkeeping Section 248.11(a)(2)
Ongoing Recordkeeping Section 248.20(b)
Ongoing Recordkeeping Section 248.20(e)
Ongoing Recordkeeping Section 248.20(f)(1)
Ongoing Recordkeeping Section 248.20(f)(2)

---

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	332,849	332,849	0	0	0	0
Annual Time Burden (Hours)	1,085,690	1,085,690	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

---

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

---

Common Form ICR:  No

---

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 12/27/2017

---